Colliers International Hotels
Acts as Advisor to the Seller
|San Francisco, CA -- (Business
Wire) - October 4, 2006 -- Colliers International Hotels announces
that it has arranged the sale of a four-property hotel portfolio in San
The sale included the following hotel properties:
The 308-unit portfolio hotel is located near the intersection on Mission and 7th Streets in San Francisco's South of Market (SOMA) neighborhood. This area has experienced significant redevelopment in recent years and this trend is continuing, most notably with the pending opening of the 690,000 square-foot San Francisco Federal Building.
"While the seller was motivated in part by the current strength of the real estate investment market, the transaction is a win-win in the sense that the new owner will be able to take advantage of both a robust citywide hotel market and the neighborhood's growth prospects", says Mark McDermott, Senior Vice President of Colliers International Hotels' San Francisco office.
About Colliers International Hotels
|Also See:||Crowne Plaza Hotel in Pleasanton, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / September 2006|
|Embassy Suites Buena Park-Disneyland Area Sold; Colliers International Hotels Acts as Advisor to the Seller / July 2006|